EU steel tariff hike threatens 'biggest ever crisis' for UK industry

The EU plans to increase tariffs on imported steel, potentially causing a major crisis for the UK steel industry. The proposed measures include cutting steel import quotas by half, with 50% tariffs beyond that limit. This move aims to address global oversupply and unfair competition facing the steel sector, impacting UK exports to the EU, worth almost £3bn annually. The UK government is seeking urgent clarification on the impact of these tariffs and exploring ways to support the domestic steel industry.